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From production of just 1.3 million barrels-per-day (bpd) in 2003, Libya has succeeded in increasing crude output to a little over 1.8 million bpd currently and hopes to reach a target of three million bpd …Read full article » : Wednesday, December 03 - 2008 @ 13:04
It is unclear whether the Shell deal is a production-sharing agreement, under which both parties would share profits, or more of a technical services agreement similar to that signed by China in August.
In any event …Read full article » Iraq: Sunday, September 28 - 2008 @ 15:31
According to OPEC the growth is expected to expand the proportion of gas in the Arab energy market to more than 46% by 2020.
Saudi Arabia’s natural gas demand is expected to reach 14.5 billion cubic …Read full article » Middle East: Monday, August 04 - 2008 @ 11:10
OPEC countries, which supply about 40 per cent of world crude production, have already responded by increasing oil production by 350,000 bpd to 32.4 million bpd, with Saudi supply rising to 9.45 million bpd. …Read full article » Middle East: Sunday, July 27 - 2008 @ 13:54
The one-day Jeddah Summit chaired by Saudi Arabia’s King Abdullah met with a mixed reaction as delegates left to report on the outcome.
Despite a strong turnout; 35 countries sent representatives, including UK Prime Minister Gordon …Read full article » Saudi Arabia: Monday, June 23 - 2008 @ 17:20
The EU wants to urgently to diversify gas supplies away from Russia’s Gazprom, which currently provides 40% of its requirements.
For its part Iraq has pledged to initially supply five billion cubic metres of gas …Read full article » Iraq: Sunday, June 22 - 2008 @ 14:29
Last Friday the WTI-oil futures contract fetched its biggest-ever (in US dollar terms) daily increase over $139.
Saudi Arabia’s oil minister, Ali al-Naimi, recently pointed out that this strong move was ‘unjustified’.
The recent spike …Read full article » Middle East: Wednesday, June 11 - 2008 @ 10:53
The Paris-based International Energy Agency (IEA), which advises 27 leading industrial countries on energy issues, suggests global oil demand will reach 116 million b/d by 2030 up by a third from the current demand of …Read full article » Middle East: Sunday, June 01 - 2008 @ 11:57
Hopes are linked to the discovery of at least 35 trillion cubic feet of non-associated gas in addition to a large amount of oil condensates in the north of the country over the last five …Read full article » Kuwait: Thursday, May 29 - 2008 @ 11:32
In January, the state-owned Abu Dhabi Future Energy Company (ADFEC) joined up to develop hydrogen-fuelled power with Hydrogen Energy, a joint venture between BP Alternative Energy and Rio Tinto.
The facility will process around 100 …Read full article » United Arab Emirates: Monday, May 12 - 2008 @ 12:40